Definition. Proximity NUPL is analogous to the standard Net-Unrealized-Profit-Loss (NUPL) metric, but based on the Proximity Realized Price instead. Proximity Realized Price is the underlying price, and NUPL is the standard counterpart.

Technical. Cost-basis quantiles use an address-based approach, where each address's holdings are assigned its average acquisition price.

Notes. First introduced by Fountainhead Digital.